India, April 27 -- The Mizoram Police have arrested 11 people for their alleged roles in a scam amounting to nearly Rs.150 crore by sanctioning vehicle loans to over 2000 'ghost' (non-existent) customers.

Addressing a press conference in Aizawl on Friday, director general of police (DGP) Anil Shukla gave details of the case, which is believed to be the biggest auto-finance scam in the northeast. Five car dealers are also said to have been involved in the conspiracy and embezzlement.

Shukla said that the accused opened a fake bank account of Mahindra and Mahindra Financial Services Limited (MMFSL), which is primarily involved in the disbursement of vehicle loans, to commit the crime over four years.

Police started investigations last mo...